Daily Market Report

GOLD This morning the European Central Bank’s suggestion that it may speed up bond buying caused the U.S. Dollar to rally and precious metals to sell off. Today’s decline in the Gold price broke the five day rally, while testing the key $1,200 per ounce support level. At 11am PDT today, Gold is trading at $1,209, down $18 per ounce...

GOLD Gold is up again this morning on fresh Asian buyers. Gold has been up five straight days, breaking above the $1,220 resistance level each day. Hopefully, Gold will now establish a new trading range between $1,220 and $1,260 per ounce. At 11am PDT today, Gold is trading at $1,227 up $3 per ounce on average volume. SILVER Silver is...

GOLD Yesterday’s weak economic data (with the U.S. Producer Price Index falling by .4% in April) helped precious metal prices. This news, combined with a weaker U.S. Dollar, helped Gold break above the 200-day moving average of $1,218, as it recorded an intra-day high of $1,228 per ounce. Today Gold is showing excellent global support above the $1,220 per ounce...

GOLD This morning the World Gold Council (WGC) released the official Gold supply and demand numbers for the 1st quarter of 2015. The report showed that investment demand increased to 278.8 metric tonnes from 268 metric tonnes in the 1st quarter of 2014. The WGC report also showed that Gold Exchange Traded Funds (ETFs) increased their holdings by 25.7 tonnes...

GOLD Gold moved back above the key $1,200 per ounce resistance level, reaching a high of $1,219. The move up was based on this morning’s report from the Bank of England. The report stated that Greece is ’Not Complacent’ on its debt and the risk of default is high. European Union data confirmed today that Greece slipped back into recession...

GOLD A weak U.S. Dollar combined with fresh demand has driven the Gold price higher on the Asian markets this morning. Gold reached a high of $1,197.60 per ounce this morning, then light selling came in before Gold reached the important $1,200 resistance level. At 11am PDT today, Gold is trading at $1,194 per ounce, up $10 on better than...

GOLD This morning Gold tested the $1,180 per ounce support level, reaching $1,178.80, then quickly rallied back above it. The Gold price continues to stay in a narrow trading range. At 11am PDT today, Gold is trading at $1,184 per ounce, down $5 on average volume. SILVER Silver, like Gold, is range bound, trading between $16.20 and $16.60 per ounce...

GOLD April’s job increase of 223,000 (bringing the U.S. Unemployment rate to 5.4%) was in line with expectations. Gold quickly rallied $10 on the news and at one point reached $1,195 per ounce on normal light Friday trading. At 11am PDT today, Gold is trading at $1,189 per ounce, up $5 per ounce on light volume. SILVER Silver has been...

GOLD Gold tested the $1,180 level today, dropping to $1,179 at one point as the US Dollar strengthened against the Euro. At that point the bulls came in and Gold has shown good support at the $1,180 level. After seeing this response compared to the last few weeks, I am hoping to see Gold rally back above this important support...

GOLD Gold is trading within a narrow $10 high/low range today, between $1,198 and $1,188 per ounce. Many of the professional commodity traders are looking for news that will give this market some direction. At 11am PDT today, Gold is trading at $1,192, down $2 per ounce, on normal trading volume. SILVER Silver is showing excellent support above the $16.40...